UKRAINE SPF TO SELL AIRLINE STAKES

The State Property Fund (SPF) of Ukraine is intending to sell the stakes it owns in Ukraine International Airlines (UIA) and AeroSvit.

“We want to sell the stakes, but we don’t have the relevant support,” says SPF Head Oleksandr Riabchenko.

Riabchenko said that it is better to sell stakes in the air carriers as soon as possible as market trends indicate their value is likely to fall.

“This business needs a lot of investment, and the state, not to delay the investment, is better to get out of the companies,” Riabchenko said.

The State Property Fund of Ukraine owns a 61.6% stake in UIA, UIA Beteiligungsgesellschaft mbH (Austria) has a 22.52% stake, the European Bank for Reconstruction and Development a 9.9% stake, and Capital Investment Project owns 6% of the company’s shares.